DNOW Inc. (NYSE:DNOW) Short Interest Update

DNOW Inc. (NYSE:DNOW - Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,070,000 shares, a decline of 9.7% from the October 15th total of 3,400,000 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 783,500 shares, the short-interest ratio is presently 3.9 days.

Institutional Trading of DNOW

A number of institutional investors have recently modified their holdings of DNOW. Allspring Global Investments Holdings LLC increased its position in shares of DNOW by 1,062.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 2,561 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of DNOW during the first quarter worth about $44,000. KBC Group NV boosted its position in shares of DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,190 shares during the period. Quarry LP grew its stake in shares of DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company's stock valued at $61,000 after buying an additional 1,908 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of DNOW during the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a report on Thursday, August 15th.

DNOW Price Performance

DNOW traded down $0.07 during trading on Tuesday, hitting $14.33. The company's stock had a trading volume of 143,634 shares, compared to its average volume of 930,709. DNOW has a twelve month low of $9.44 and a twelve month high of $15.65. The stock has a market cap of $1.52 billion, a PE ratio of 7.70 and a beta of 1.45. The firm's 50 day moving average price is $12.70 and its 200-day moving average price is $13.31.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the prior year, the company posted $0.25 EPS. The company's quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that DNOW will post 0.84 earnings per share for the current year.

DNOW Company Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.